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Navy Federal Thread for CLI and Additional Cards

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New Visitor

Re: Navy Federal Thread for CLI and Additional Cards

Hi Everyone!

 

I am very new to the forum, this is actually my first time posting.

 

I have been a member of NFCU for almost two years now. I recently received an email containing an acceptance for the amex, I pulled the trigger today and applied - - I was approved for a SL of $500.00. I am wondering if I had applied for a different card if my SL may have been higher? If I were to apply for another card today, would I be approved for a card with a higher SL? Or should I wait it out and do the 91/3 for a CLI and a new card?

 

Just for some background : Discover IT - 1182/1200 Nordstrom - 450/1000 Overstock 0/250

 

Due to high utilization my scores have dropped to the high 500s ..

 

ANY ADVICE?? 

Message 10071 of 14,927
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Community Leader
Super Contributor

Re: Navy Federal Thread for CLI and Additional Cards

Hello and welcome to myFICO.

First congrats on the approval.

Second, I don't believe applying for a different card would have netted you a higher limit. IMHO, I believe your SL was low because your UT is high. Your Disco is maxed out at 98% and your Nordstrom is at 45%.

I suggest not applying for anything until Disco is at <28.9% and Nordstrom is <8.9%. Once your Disco is below 28.9%, then there’s a chance you would be approved for a CLI. I say Disco because it’s a SP. NFCU is a HP 99% of the time so save your HP because until you get your UT down, it will be a decline and a wasted HP.

GL2U

DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $6.5K ||
Message 10072 of 14,927
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Established Contributor

Re: Navy Federal Thread for CLI and Additional Cards

The high util on your Discover is more than likely the reason for your SL. You can't apply for another card until the 91/3 mark, so in the meantime work on getting your util down. GL!







Message 10073 of 14,927
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New Visitor

Re: Navy Federal Thread for CLI and Additional Cards

Thank you CreditInspired and Scooter!!

I am working to get those cards down. Nordstrom will be at zero within the next couple of weeks and then I will knock out Discover as well.
Message 10074 of 14,927
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Established Member

Re: Navy Federal Thread for CLI and Additional Cards

Hey All !!

Today is my 91/3 . I was approved for a consalidation loan with NFCU about a month ago to pay off 3 high interest loans I had . NFCU loan is showing on my credit report already but 2 of the 3 loans I paid off are still reporting as open . I know eventually they will report as closed, my question is should I wait until all 3 show closed or just apply for a second card now ? My credit utilization is 8% so I'm good there.
Message 10075 of 14,927
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Valued Member

Re: Navy Federal Thread for CLI and Additional Cards

So I was turned down for both.  It isn't altogether surprising considering the high UTL on the cash rewards.  I sent in a secured message asking for a reconsideration.  I got a text message saying that they were reveiwing my application.  Hoping they change their mind, but certainly not counting on it.  In a couple months I will have it paid down, and I can try again.


Message 10076 of 14,927
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Established Member

Re: Navy Federal Thread for CLI and Additional Cards

I pulled the trigger and was instantly approved for a More Rewards American Express with a SL of $7500 . I was also approved for a CLI of $1400 on my rewards card ( new limit is $2100 ) . Super happy with both. NFCU ROCKS !!!!
Message 10077 of 14,927
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Established Member

Re: Navy Federal Thread for CLI and Additional Cards

How does that recon work? And is it worth it after you have been declined a CLI, CLOC, etc. If I get anymore HP's, I want them now, this month.

 

But before you answer, I have a very good payment history, although only a couple years old. No credit since a few charge offs in 2013. Never applied until a couple years ago, about 2017.

 

Have, unsecured at about $22K with a util well under 3%, Vantage score has me at 746 average and Fico has me at about 646 average, NFCU has Fico 9 at 661. All still show high util rate, but it has been a month or two and all but one is paid off, AmEx - daughter used it for car repairs.

 

Is it really worth it to phone con and ask for a reconsideration?

 

BTW, my DTI may hurt, I am on SSD and make nothing, about $14,750 and self employed about $8400, both are basically, gross $ net. Not enough to pay taxes.

 

I am going into the garden, but want to do what I can to finish out this month.

Equifax – SECU FICO 8 & NFCU FICO 9 = 691 average.

Experian – Fingerhut FICO 8 & Experian FICO 8 = 691 average.

Transunion – Discover FICO 8 & AmEx Fico 8 = 689 average.

All Vantage Score 3.0 averages/9 sites = 702 average.

All the above FICO are free credit scores. Vantage is nine free scores average.

Util = about 7% / DTI = about 38% / Income ~$14988,00 SSD does not pay very much, I work harder at this.

NFCU AmEx - $15,000
NFCU cashRewards - $6,000 / Home Depot - $4000 / Discover It - $3800 / AmEx Cash Card - $1000 / Cap One MC - $1500 / Sears-SYW MC - $3000 / Wayfair - $4250 / Best Buy - $3000 / Dell CC - $3000 / Big Lots - $1250 / Kohl’s - $1000 / J. Crew - $500 / Brylnhme - $700 / Fingrhut - $700.
Fingerhut only to get the free Experian FICO 8 Score.
Message 10078 of 14,927
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Contributor

Re: Navy Federal Thread for CLI and Additional Cards

Just as an update, I appd for the nfcu Amex and got 20k. Now I’m going to hold off on asking for clis on my 5.5k CR and 10k flag so as to not seem overly greedy - Altho from what I’ve read navy doesn’t seem to mind going after more more more.
Current FICO 8s:
EQ: 635 - TU: 666 - EX: 644
Starting Score: 617
Current Middle Score: 644
Goal Score: 800


Message 10079 of 14,927
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Super Contributor

Re: Navy Federal Thread for CLI and Additional Cards


@Lolas_dad wrote:

How does that recon work? And is it worth it after you have been declined a CLI, CLOC, etc. If I get anymore HP's, I want them now, this month.

 

But before you answer, I have a very good payment history, although only a couple years old. No credit since a few charge offs in 2013. Never applied until a couple years ago, about 2017.

 

Have, unsecured at about $22K with a util well under 3%, Vantage score has me at 746 average and Fico has me at about 646 average, NFCU has Fico 9 at 661. All still show high util rate, but it has been a month or two and all but one is paid off, AmEx - daughter used it for car repairs.

 

Is it really worth it to phone con and ask for a reconsideration?

 

BTW, my DTI may hurt, I am on SSD and make nothing, about $14,750 and self employed about $8400, both are basically, gross $ net. Not enough to pay taxes.

 

I am going into the garden, but want to do what I can to finish out this month.


Up to you, but it's a good chance they'll do another HP. I've never had a successful recon but some have. If you don't care about the HP, it doesn't hurt to ask for reconsideration. 



Last HP 09-14-2020



Message 10080 of 14,927
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